Derwent London is pleased to announce that it has completed the construction and office lettings of its 80 Charlotte Street W1 380,000 sq ft mixed-use development, the largest ever undertaken by the Group and its first net zero carbon development. We are delighted to welcome Boston Consulting Group (BCG), Arup Group and Elliott Wood to the building, providing a significant long-term benefit to the local economy.
Completing construction during lockdown created additional challenges but these were well managed by the contractors, Multiplex, alongside the Derwent London team in collaboration with the incoming occupiers.
The 380,000 sq ft scheme, designed by Make architects, consists of 321,000 sq ft of offices, 45,000 sq ft of residential including 10,000 sq ft of affordable housing, and 14,000 sq ft of retail. Overall, the project is 90% let for a rent of £24.3m. With a strong focus on wellbeing, occupiers will benefit from generous spaces, a reception café and extensive roof terraces, totalling 17,000 sq ft. This includes a large communal terrace with event space. Other amenities comprise facilities for over 300 bicycles, ground floor retail and a new public pocket park.
Finding ways to respond to climate change remains more important than ever before. 80 Charlotte Street is Derwent London’s first ‘all-electric’ building. Heating and cooling will be provided by air source heat pumps powered by electricity from renewable sources. The embodied carbon impact has been monitored throughout construction and is estimated to be 28% lower than the RICS Carbon Database average for office buildings. These emissions will be offset using certified schemes, making this our first net zero carbon development and part of our focus on achieving a net zero carbon portfolio by 2030.
As part of the Group’s support for the NHS during the COVID-19 crisis, 16 furnished flats have been made available at no cost for the remainder of the year to University College Hospital. We would also like to thank our many partners who have supported this initiative by providing art to decorate the accommodation. In addition, we are supporting the local community through our Fitzrovia and West End Community Fund where we have recently finalised the distribution of our latest annual tranche of funding. Further support is being made available through a supplementary fund that Derwent London created in response to the pandemic.
Paul Williams, Chief Executive of Derwent London, said:
“We are delighted to have achieved one of our main targets for 2020 with the practical completion of 80 Charlotte Street. This exceptional building, attracting major international businesses, demonstrates the resilience of good office space with adaptable internal areas and a focus on wellbeing and long-term sustainability. We are also pleased to be able to support local hospital workers, whose continuing service inspires us all.”
Andy Veitch, Managing Director & Partner at Boston Consulting Group, said:
"BCG looks forward to making 80 Charlotte Street our new home in mid-2021. Now that construction has finished, we are excited to design the new office in line with our broader strategy to lower our carbon footprint, while bringing together our various business units in a dynamic and inspiring environment that maximises collaboration between our people and our clients.”
Geoff Hunt, Chief Operating Officer, UKIMEA at Arup said:
"The 80 Charlotte Street office reflects our commitment to sustainable integrated design fit to inspire staff and visitors. The new offices provide access to open space and greenery and reflect our aspirations for low operational carbon and to be part of the team to build one of the UK’s first all-electric commercial buildings. We look forward to 80 Charlotte Street being part of our wider London estate.”
Baroness Julia Neuberger DBE, Chair of UCLH, said:
“We are so grateful to Derwent for allowing us to use these apartments for staff at what has been a very tough time at UCLH. This will transform the lives of staff who cannot go home because family are shielding, or who just need to be near the hospital. This could not have come at a better time. Thank you, on behalf of us all.”